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Ex-president of Santa Clara metal finishing company sentenced to prison for fraud

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Prosecutors said Harry Corl III used corporate funds to buy jewelry from Tiffany & Co, lease a Ferrari 599 GTB.

SAN JOSE – The ex-president and CEO of a Santa Clara-based metal finishing company who improperly used corporate funds to buy jewelry from Tiffany & Co. and lease a Ferrari has been sentenced to 2½ years in federal prison, according to authorities.San Jose mom charged in baby’s fentanyl death expected to be released to await trial

From 2008 to 2014, Corl and his estranged wife, Kim Corl, served as executive officers for Nu-Metal Finishing Inc. and trustees of its employee stock ownership plan, prosecutors said in a sentencing memorandum. The plan provided retirement benefits and savings to employees by purchasing and investing stock for their benefit.

The plan and another shareholder, however, owned more than 50% of Nu-Metal’s outstanding stock and were owed their corresponding portion of the sale proceeds.

 

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